MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.52

-0.3%

Jan 7 4:00 PM EST

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To: schrodingers_cat who wrote (50729)	5/22/2000 2:24:00 AM
From: schrodingers_cat	of 99985

Thoughts on this week's NAS market... I'm worried by the decline, on fairly light volume, that we saw in the NAS last week after the Fed did what everybody had predicted. Combined with the sharp drop in volume before the Fed I think this suggests that people are becoming disillusioned with investing in tech stocks and are withdrawing from the market. The extreme volatility and the failure to recover to the March highs are possible reasons for this disillusionment. Little economic or earnings news is due out this week so there won't be much to make people want to buy. I think the NAS will continue to slide over the course of the week, and may retest April's lows. Down three days in a row last week so wouldn't be surprised by a brief rally Monday. JMO

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